Saudi Kayan Petrochemical Co.TADAWUL: 2350

Saudi Kayan Petrochemical announces the interim financial results for the period ending on 30 06 2024 (6 Months)

· Issued by Saudi Kayan Petrochemical Co.
Saudi Kayan Petrochemical Co. announces the interim financial results for the period ending on 30-06-2024 (6 Months)

7/28/2024

ELEMENT LIST CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR %CHANGE PREVIOUS QUARTER %CHANGE
Sales/Revenue 2,106.24 2,209.3 -4.664 1,975.8 6.601
Gross Profit (Loss) -34.1 -111.04 -69.29 -274.8 -87.59
Operational Profit (Loss) -91.28 -240.16 -61.992 -393.4 -76.797
Net Profit (Loss) -250.09 -392.13 -36.222 -571.9 -56.27
Total Comprehensive Income -230.54 -373.85 -38.333 -539.4 -57.259
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENT LIST CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR %CHANGE
Sales/Revenue 4,082.1 3,891.8 4.889
Gross Profit (Loss) -308.9 -450.4 -31.416
Operational Profit (Loss) -484.6 -734.8 -34.05
Net Profit (Loss) -821.9 -1,065.4 -22.855
Total Comprehensive Income -770 -1,064.8 -27.685
Total Shareholders Equity (after Deducting Minority Equity) 12,514.09 14,412.45 -13.171
Profit (Loss) per Share -0.55 -0.71
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENT LIST AMOUNT PERCENTAGE OF THE CAPITAL (%)
Profit (Losses) Resulting From The Change In Investment Propertie's Fair Value - -
Accumulated Losses -3,533.86 -23.6
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENT LIST EXPLANATION
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is The reason for the decrease in sales during the current quarter compared to the same quarter of the last year is due to decrease in sales quantities despite of the increase average selling prices of products.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is The reason for decrease in the net loss for this quarter compared to same quarter last year is due to increase in average selling prices of products as well as collecting partial insurance amount for the Bisphenol plant reached SAR 130 million during Q2 of 2024, despite of decrease in sales quantities.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The reason for increase in sales during the current quarter compared to the previous one is due to increase in average selling prices of products.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The reason for decrease the net loss for this quarter compared with previous quarter is due to increase in average selling prices of products as well as collecting partial insurance amount for the Bisphenol plant reached SAR 130 million during Q2 of 2024.
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is The reason for increase in sales during the current period compared to the same period of the last year is due to increase in sales quantities.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The reason for decrease the net loss for this period compared to the same period of the last year is due to increase in sales quantities. as well as decrease in cost of production and collecting partial insurance amount for the Bisphenol plant reached SAR 177 million during first half of 2024.
Statement of the type of external auditor's report Unmodified conclusion
Comment mentioned in the external auditor's report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) None
Reclassification of Comparison Items Certain previous period expenses have been re-classified to conform to the presentation of financial statements in the current period.
Additional Information -
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